Voyager Therapeutics (NasdaqGS:VYGR) - Share price, News & Analysis

VYGR fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	0/6
Financial Health	6/6
Dividends	0/6

VYGR Stock Overview

Voyager Therapeutics, Inc., a gene therapy company, focuses on the development of treatments and next-generation platform technologies.

Risk Analysis

Earnings are forecast to decline by an average of 10.7% per year for the next 3 years

Highly volatile share price over the past 3 months

Currently unprofitable and not forecast to become profitable over the next 3 years

Voyager Therapeutics Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Voyager Therapeutics
Historical stock prices
Current Share Price	US$5.76
52 Week High	US$10.60
52 Week Low	US$2.46
Beta	1.1
1 Month Change	0.17%
3 Month Change	-38.98%
1 Year Change	32.41%
3 Year Change	-78.84%
5 Year Change	-35.71%
Change since IPO	-67.55%

Recent News & Updates

Jun 08

Looking Back In On Voyager Therapeutics

Today, we revisit Voyager Therapeutics for the first time in a year. The company has signed licensing deals with two large drug makers since we last looked in on it and net cash represents most of the stock's current market capitalization. A full investment analysis follows in the paragraphs below.

May 12

Need To Know: Analysts Just Made A Substantial Cut To Their Voyager Therapeutics, Inc. (NASDAQ:VYGR) Estimates

The analysts covering Voyager Therapeutics, Inc. ( NASDAQ:VYGR ) delivered a dose of negativity to shareholders today...

Shareholder Returns

	VYGR	US Biotechs	US Market
7D	15.2%	10.3%	6.6%
1Y	32.4%	-24.3%	-18.4%

Return vs Industry: VYGR exceeded the US Biotechs industry which returned -24.4% over the past year.

Return vs Market: VYGR exceeded the US Market which returned -18.5% over the past year.

Price Volatility

Is VYGR's price volatile compared to industry and market?
VYGR volatility
VYGR Average Weekly Movement	16.8%
Biotechs Industry Average Movement	13.2%
Market Average Movement	8.1%
10% most volatile stocks in US Market	16.6%
10% least volatile stocks in US Market	3.2%

Stable Share Price: VYGR is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 17% a week.

Volatility Over Time: VYGR's weekly volatility (17%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2013	101	Al Sandrock	https://www.voyagertherapeutics.com

Voyager Therapeutics, Inc., a gene therapy company, focuses on the development of treatments and next-generation platform technologies. The company’s lead clinical candidate is the VY-AADC, which is in open-label Phase 1 clinical trial for the treatment of Parkinson’s disease. Its preclinical programs comprise VY-SOD102 for the treatment of amyotrophic lateral sclerosis; VY-HTT01 for Huntington’s disease; VY-FXN01 for Friedreich’s ataxia; and Tau program for the treatment of tauopathies, including Alzheimer’s disease, progressive supranuclear palsy, and frontotemporal dementia, as well as for spinal muscular atrophy.

Voyager Therapeutics Fundamentals Summary

How do Voyager Therapeutics's earnings and revenue compare to its market cap?
VYGR fundamental statistics
Market Cap	US$221.51m
Earnings (TTM)	-US$70.87m
Revenue (TTM)	US$31.57m

7.0x

P/S Ratio

-3.1x

P/E Ratio

Is VYGR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
VYGR income statement (TTM)
Revenue	US$31.57m
Cost of Revenue	US$65.79m
Gross Profit	-US$34.22m
Other Expenses	US$36.65m
Earnings	-US$70.87m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-1.84
Gross Margin	-108.38%
Net Profit Margin	-224.46%
Debt/Equity Ratio	0%

How did VYGR perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is VYGR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VYGR?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for VYGR. This is calculated by dividing VYGR's market cap by their current preferred multiple.
What is VYGR's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$221.51m

VYGR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.1x
Enterprise Value/EBITDA	-1.6x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does VYGR's PS Ratio compare to its peers?

VYGR PS Ratio vs Peers

The above table shows the PS ratio for VYGR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PS	Estimated Growth	Market Cap
Peer Average	1212.2x

Forward PS

Price-To-Sales vs Peers: VYGR is good value based on its Price-To-Sales Ratio (7x) compared to the peer average (1212.2x).

Price to Earnings Ratio vs Industry

How does VYGR's PE Ratio compare vs other companies in the U.S. Biotechs Industry?

Price-To-Sales vs Industry: VYGR is good value based on its Price-To-Sales Ratio (7x) compared to the US Biotechs industry average (14.1x)

Price to Sales Ratio vs Fair Ratio

What is VYGR's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VYGR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	7x
Fair PS Ratio	0.7x

Price-To-Sales vs Fair Ratio: VYGR is expensive based on its Price-To-Sales Ratio (7x) compared to the estimated Fair Price-To-Sales Ratio (0.7x).

Share Price vs Fair Value

What is the Fair Price of VYGR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate VYGR's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate VYGR's fair value for valuation analysis.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate VYGR's PEG Ratio to determine if it is good value.

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Future Growth

How is Voyager Therapeutics forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-10.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: VYGR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: VYGR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: VYGR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: VYGR's revenue is expected to decline over the next 3 years (-8.8% per year).

High Growth Revenue: VYGR's revenue is forecast to decline over the next 3 years (-8.8% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: VYGR is forecast to be unprofitable in 3 years.

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Past Performance

How has Voyager Therapeutics performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

17.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VYGR is currently unprofitable.

Growing Profit Margin: VYGR is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: VYGR is unprofitable, but has reduced losses over the past 5 years at a rate of 17.6% per year.

Accelerating Growth: Unable to compare VYGR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: VYGR is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (96.9%).

Return on Equity

High ROE: VYGR has a negative Return on Equity (-93.33%), as it is currently unprofitable.

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Financial Health

How is Voyager Therapeutics's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: VYGR's short term assets ($170.7M) exceed its short term liabilities ($101.7M).

Long Term Liabilities: VYGR's short term assets ($170.7M) exceed its long term liabilities ($46.6M).

Debt to Equity History and Analysis

Debt Level: VYGR is debt free.

Reducing Debt: VYGR has not had any debt for past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable VYGR has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: VYGR is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 11.1% per year.

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Dividend

What is Voyager Therapeutics's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate VYGR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate VYGR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if VYGR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VYGR's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as VYGR has not reported any payouts.

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Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure

CEO

Al Sandrock (63 yo)

0.25

Tenure

Dr. Alfred W. Sandrock Jr., also known as Al, M.D., Ph D., served as Director at Verge Analytics, Inc. since February 2022. He serves as Member of Scientific Advisory Board at Camp4 Therapeutics Corporatio...

Leadership Team

Experienced Management: VYGR's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: VYGR's board of directors are considered experienced (5.9 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/26 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31